What the Finns need to know about Portugal.

[carnide_]

Portugalnomics.

[Julian Delphiki]

Message is being heard

http://finnishaidforportugal.blogspot.com/

[Felch]

Portugal sent blankets to Finland 70 years ago, and now they want billions of euros in aid?

[giblets]

Portugal sent blankets to Finland 70 years ago, and now they want billions of euros in aid?

Well, they also extracted tons of wealth from the rest of the world during their colonial days. The video spent a lot of time driving that home. That's why the Finns who had to work for nearly everything they got (blankets aside) should give money to Portugal.

[Tuga]

Hello everyone.

As a matter of fact, the video is inacurate.
Portuguese did not invented de maritime compass or the latin sail. They just perfect it.
Anyway, whats the big fuss?

Finland only has to aprove the bailout without financing a single cent of it. Others are willing to finance it.
So I dont understand all the fuss about this, about Finland and Portugal.

But looking through the eyes of an euroceptic Finn:
It is more a situation of Finland against the EU. Portugal just get caught in the midle.

[giblets]

Why is Portugal begging for money?

[KrazyHorse]

The real question is why others are willing to give it to them.

[Zoetstofzoetje]

Europe needs more working-mentality management of finance, and less let's-print-more-money-and-let-the-next-politician-in-office-do-the-impopular-work--mentality. Hip hip hurray for Dutch/German/UK intervention.

Portugal, Spain, Greece, and Italy are financial sinkholes that need to be disciplined.

[KrazyHorse]

The Euros are printing money? Really? The general consensus is that the ECB has been far less accommodative than the Fed. Note that the Euro has appreciated significantly against the dollar in the last couple of years, despite the eurozone failing to outperform the US

[giblets]

IMO, not much of a trend over the last couple of years here:

[Barnabas]

The Brazilian Ronaldo is better than the Portuguese one.





The English should formally annex their colony and call it Bigger Gibraltar.

[Barnabas]

They should abandon the Euro and renegotiate their debt, once they become cheaper, they will be able to produce something, grow and develop.

[C0ckney]

Why is Portugal begging for money?

portugal has been suffering from a lack of economic competitiveness since well before the financial crisis. most of the things it produces are very price sensitive, and its industries have been hurt in recent years by competition, mostly asian but also from eastern europe. its labour market is inflexible and there has been a brain drain of many of its best and brightest, going back years. it has a severe balance of payments problem as well as a debt one, but unlike say ireland or spain isn't dealing with the effects of a property bubble bursting.

interestingly the portuguese government recently came out with a list of things that they're not prepared to do while trying to fix the country's economic problems.

- no pay general pay cuts, not even wages paid with public debt
- no change in pensions below 1500 euros
- no wage cuts to civil servants
- no reduction in minimum wage
- no constitutional revision
- no privatization of the public bank (CGD)
- no change in copayments of the National Health Service
- no change in publicly-funded schools
- no dismissals in civil service
- no dismissals without cause in companies
- no privatization of social security
- no caps in social security
- no increase in retirement age

you might ask what does that leave, and it would be a good question! although there is an election very soon, so a lot of that may just be political posturing and following the election, you may very well see the party in power having to do some of things on that list.

[Thoth]

Why is Portugal begging for money?

Because they are the Quebec of Europe.

[Riesstiu IV]

portugal has been suffering from a lack of economic competitiveness since well before the financial crisis. most of the things it produces are very price sensitive, and its industries have been hurt in recent years by competition, mostly asian but also from eastern europe. its labour market is inflexible and there has been a brain drain of many of its best and brightest, going back years. it has a severe balance of payments problem as well as a debt one, but unlike say ireland or spain isn't dealing with the effects of a property bubble bursting.

interestingly the portuguese government recently came out with a list of things that they're not prepared to do while trying to fix the country's economic problems.



you might ask what does that leave, and it would be a good question! although there is an election very soon, so a lot of that may just be political posturing and following the election, you may very well see the party in power having to do some of things on that list.

Also, Portugese are Wogs.